JMP Securities Thinks New Fortress Energy LLC’s Stock is Going to Recover

By Carrie Williams

JMP Securities analyst Devin Ryan reiterated a Buy rating on New Fortress Energy LLC (NFEResearch Report) yesterday and set a price target of $20. The company’s shares closed yesterday at $12.47, close to its 52-week low of $12.06.

According to TipRanks.com, Ryan is a 5-star analyst with an average return of 19.7% and a 74.7% success rate. Ryan covers the Financial sector, focusing on stocks such as Apollo Global Management LLC, Raymond James Financial, and Goldman Sachs Group Inc.

New Fortress Energy LLC has an analyst consensus of Moderate Buy, with a price target consensus of $20, a 60.4% upside from current levels. In a report issued on February 25, Stifel Nicolaus also initiated coverage with a Buy rating on the stock with a $27 price target.

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The company has a one-year high of $16.11 and a one-year low of $12.06. Currently, New Fortress Energy LLC has an average volume of 387.8K.

Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NFE in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

New Fortress Energy LLC engages in the provision of energy infrastructure and development services. It specializes in the fields of power, infrastructure, transportation and liquefied natural gas (LNG). Its LNG production and delivery model includes liquefaction, logistics, shipping, and terminals.